Venergy Maritime doubles VLCC order at Hengli for 2029 delivery

Venergy Maritime has expanded its presence in the very large crude carrier segment by doubling its orderbook at Hengli Heavy Industries, securing delivery slots that stretch into 2029.

The company exercised options for two additional 306,000 dwt crude carriers, according to reports from Shipping Herald. This move follows an initial contract for two firm vessels at the same yard. All four VLCCs are now scheduled for delivery in 2029.

Why it matters

Venergy is moving to lock in shipyard capacity as available slots for large tankers become increasingly scarce. By exercising these options now, the owner ensures it has modern tonnage entering the water at the end of the decade, a period when much of the existing global VLCC fleet will be approaching its third decade of service.

The 2029 delivery dates highlight the current pressure on global shipbuilding capacity. Owners looking to refresh their fleets today face multi-year waits, making existing options a valuable asset. Venergy’s decision to commit to four vessels suggests a long-term bullish view on crude demand and the necessity of high-specification, 306,000 dwt tonnage for long-haul trades.

For charterers, this order provides a clear signal of where future capacity is coming from. As older vessels face stricter environmental regulations and potential phase-outs, these newbuilds will likely command a premium in the late 2020s. The choice of Hengli Heavy Industries also points to the growing role of private Chinese yards in the high-end tanker market, which has traditionally been the domain of state-owned giants and South Korean builders.

Source: Shipping Herald